My dad told me all kinds of stories back in his 70's, hippie days, and he told me about $15 ounces. He told me the growers then left a lot, if not all the leaves on the buds, so getting pure buds like we do now, was not common. Not like today where we smoke just the flower (bud).

He then told it was $30 an ounce for Panama Red.

As for quality, he said he could sit around all day, smoking joint after joint and not pass out. So I'm guessing it wasn't as great as it is now.